With little room for further competition on price, insurers are beginning to look for the higher ground of differentiation around customer service and loyalty to improve market share. The threat of new digitally savvy entrants to the insurance market, with their rich treasuries of customer insight, is also driving an even sharper focus on customer centricity and its business benefits.
In order to achieve this customer focused vision and move away from the policy-centric practices of the past, forward-thinking insurers have made it a business imperative to better understand their customer’s behaviours, preferences, relationships and activities. Achieving this degree of customer insight requires a new level of technical prowess, one that relies on obtaining a single and complete view of the customer across the enterprise.
Read our research report surveying 265 senior executives to understand how insurers are leveraging their data to achieve competitive advantage.
Read this executive briefing paper and watch the companion video from independent IT analyst firm Freeform Dynamics discussing the role that Master Data Management technology has to play for insurers seeking to leverage the benefits of customer-centricity.
Watch this on-demand webinar featuring our Vice President of Technical Services, Gary Stalker, discussing how best to shape an MDM initiative in insurance. You will learn about the 10 steps you’ll need to go through to achieve a single customer view alongside the 10 key benefits you can expect to create for your organization.
This on-demand webinar featuring our CTO, An-Chan Phung and The Data Governance Coach, Nicola Askham will offer practical guidance on how to account for two of the most common issues you will encounter when undergoing a data improvement initiative in insurance: building the business case and bridging the data governance gap.